Fintech firm Acre has raised £6.5m in a seed funding round led by McPike Global Family Office (MGFO), with participation from returning investors Aviva and Founders Factory.
The investment will be used to accelerate the growth of the platform and streamline the homebuying process.
Acre’s platform has over 1,300 users representing £10bn in annual mortgage volume. Its integrated platform allows users to complete the homebuying journey in one place, from mortgage searches to insurance products.
The platform also provides tools to aid brokers in delivering speedy and efficient advice tailored to individual cases. Acre plans to use the funds to expand partnerships with lenders and insurers.
Justus Brown, CEO and founder of Acre, said: “This latest fundraise demonstrates our strength and commitment to the market and supercharges our ambitions as the tech platform of choice for brokers.”
Ant Barker, head of venture investments and partnerships at Aviva, added that Acre “represents the future of a tech-led mortgage market”.
Drew Colaiezzi, private investments manager with MGFO, said that Acre is primed “to take advantage of the quickly evolving UK mortgage market”.
The latest investment follows Acre’s £5m funding round in 2019, which was led by Aviva and Sesame Bankhall Group (SBG) after its spin-out from Founders Factory’s venture studio.
